Here's a preview of the link to a new paper due out today...

A Feeble Recovery: The fundamental economic weaknesses of the 2001-07 expansion

Evidence is mounting that the U.S. economy is in a recession. If this is the case, a complete business cycle from 2001 through the end of 2007 (or perhaps the start of 2008) is now on the books, and the economic performance of the current decade can be held up in comparison to that of past business cycles. By almost all measures, the most recent expansion was the worst since WWII.

Weak expansion | Posted May 1, 2008 09:59 AM by John Irons